Ramsey Company issues an $768,000, 60-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 9%. Assume a 360-day year. If an amount box does not require an entry, leave it blank.

a. Journalize Ramseys entries to record: the issuance of the note. the payment of the note at maturity.

1.

2.

b. Journalize Buckners entries to record: the receipt of the note. the receipt of the payment of the note at maturity.

1.

2.